<<<Back to Small Change Archive 2004 Spot # Spot Name 1 No Place for Scrooge Aired: Week of 1/5/04 Source: The Foundation Center The holiday season may be over, but Northeast Ohio’s spirit of good will lasts all year long. With so many philanthropic organizations in Ohio, the state is ranked sixth in the nation. And there’s no bah-humbug about Northeast Ohio’s generosity . Four out of ten of the state’s top givers are based in the Cleveland Area, and their assets make up 56% of all the foundations in the state. The grand total of Northeast Ohio’s philanthropy comes to more than $553 million. Let’s face it, there’s just no place for Scrooge in this region. 2 Stay Healthy - Buy Ohio Produce Aired: Week of 1/12/04 Source: Ohio Department of Agriculture Here’s a New Year’s resolution that anyone can keep-something that can slim the waistline AND help the economy. The resolution: eat healthily and buy Ohio produce. Agriculture is the state’s number one industry; Ohio farmers grow more than 200 crops with soybeans and corn topping the list. If you’re like 75% of Ohioans, you prefer buying Ohio food and agriculture - identified by the “OhioProud” label. Every dollar you spend on the local stuff is reinvested in Ohio’s economy - making the state’s agriculture and economy even stronger. That ought to make you feel better when you buy that extra head of lettuce to keep the pounds off. 3 Invest in Early Education Aired: Week of 1/19/04 Source: National Institute for Early Education Research When we talk about the importance of education to our economic growth, we don’t just mean post-high school. The most formative years of a person’s life are from birth to age 5. Without the proper education during those years, a child is more likely to drop out of school, receive welfare benefits and commit crime. Studies from Ypsilanti Michigan to Syracuse, New York have found that for every dollar invested in early childhood education, there was a return of eight dollars in benefits to society and to the individual’s pocketbook. An 8-to-1 return seems like a better investment than your average college savings account. 4 Financial Services Boom Aired: Week of 1/26/04 Source: REI @ Weatherhead Time for a multiple choice quiz - which Northeast Ohio industry grew three times faster than the overall regional economy: A, information technology; B, manufacturing; or C, financial services? The answer is C. Financial services - which includes banking, insurance and brokerage firms - employs about 75,000 workers in Northeast Ohio and is the third largest employer. Over the last decade, financial services added about 40,000 NEW jobs to the area and about $2 billion in earnings. Wondering what caused the growth? Productivity, product innovation and entrepreneurship - the same characteristics that’ll pass any economic test. 5 Smilin' Roads Aired: Week of 2/2/04 Source: None It’s no secret that Northeast Ohio has some of the friendliest people in the country, but did you know that the rest of the country even thinks our transportation system is friendly? Ohio’s economic success is closely linked to our transportation system. The Cleveland metropolitan area is ranked fourth out of more than 300 cities for being transportation friendly. That means shippers think our roads, our work force, and even our fuel taxes make Northeast Ohio a great place for distributing cargo. So next time you see a truck on the road, show ‘em you’re as affable as our roads and smile. 6 Smilin' Roads Aired: Week of 2/9/04 Source: None It’s no secret that Northeast Ohio has some of the friendliest people in the country, but did you know that the rest of the country even thinks our transportation system is friendly? Ohio’s economic success is closely linked to our transportation system. The Cleveland metropolitan area is ranked fourth out of more than 300 cities for being transportation friendly. That means shippers think our roads, our work force, and even our fuel taxes make Northeast Ohio a great place for distributing cargo. So next time you see a truck on the road, show ‘em you’re as affable as our roads and smile. 7 Treating That Cough, Treating That Economy Aired: Week of 2/16/04 Source: The Economic Impact of Pandemic Influenza in the United States: Priorities for Intervention report; Cuyahoga County District Board of Health Feeling a little under the weather? Don’t ignore those coughs! If your sneezing gets worse, it could make the whole economy sick. The centers for disease control estimates that if there is another influenza pandemic - where at least 35% of the national workforce is hit - the economic consequences could cost as much as $249 billion. This year’s influenza outbreak in Cuyahoga County alone was up over 1,000% from last year. Multiply that by all of Northeast Ohio’s cases and you gotta figure influenza is costing the region a pretty penny. So next year, help out the economy, get your flu shot early. 8 Assets of the Port Authority Aired: Week of 2/23/04 Source: The Port Authority of Cleveland It’s rough out there on the wild seas of Lake Erie... good thing we have an authority looking out for our industries and economy. It’s easy to forget that a Port Authority rules over the Port of Cleveland, one of the best economic assets in the region. Industry supported by the Port employs 11,000 people and generates more than $822 million in business revenue alone. Add in the non-tangible benefits of the port - such as the lending programs it offer and the Tall Ships festival it hosts - and you’ve got a pretty impressive economic anchor, right here in Northeast Ohio. 9 Snacking Ohio Aired: Week of 3/1/04 Sources: Ohio Ecological Food and Farm Association; Ohio Department of Agriculture Hungry? Before you head out to buy a little snack, you might want to consider where your food comes from. Your food travels a long way before you chow down. The average food molecule embarks on a 1,300-mile journey just to reach your plate. That’s quite a ride, and it could explain why 80% of each dollar you spend on food pays for distribution while only 20% makes it to the farmer’s pocket. And that’s probably some farmer in California. So you gotta wonder: why let your money sail across the country when you could reinvest it in the local economy by snacking on Ohio goodies instead? 10 Planes & Gains Aired: Week of 3/8/04 Sources: Akron-Canton Regional Airport; Cleveland Hopkins International Airport They take off, they land, sometimes they’re delayed... but coming or going, those airplanes help Northeast Ohio’s economy. Cleveland Hopkins International and Akron-Canton Regional Airport are the busiest airports in these parts. Nearly 11 million people pass through Cleveland a year, and that keeps 5,600 people employed at the airport. The Akron-Canton airport is a bit smaller - serving 1 million passengers - but it’s growing. In fact, Akron-Canton’s economic impact last year was $280 million and 1,300 people work in jobs directly related to the airport. So forget the friendly skies, it’s the action on the ground that’s helping out this region’s economy. 11 The Great Outdoors Aired: Week of 3/15/04 Sources: Cuyahoga Valley National Park Service; Lakewood Public Library The great outdoors is calling your name! And in Northeast Ohio, it's easy to respond to the call. Can there be too many options for outdoor life? The Cuyahoga Valley National Park has 33,000 acres at your disposal. Cleveland's Emerald Necklace contains more than 60 miles of paved trails. Lake Metroparks offers golfing, skiing and maple-syrup making. There's also the Holden Arboretum, the Buckeye Trail, Cleveland Lakefront State Parks…just to name a few. So if you wonder about quality of life in Northeast Ohio, why not wander around in the parks? 12 Silver Screen Brings the Green Aired: Week of 3/22/04 Sources: The Cleveland International Film Festival Filling a dark room with hundreds of people might not be you’re idea of a way to make money, but it sure gets the cash flowing in Downtown Cleveland. It’s the lure of the silver screen. This year the Cleveland International Film Festival is showing 160 movies and shorts. On average, the festival admits 40,000 people, and all those movie buffs have an economic impact of about a quarter of a million dollars! That’s an annual cash cow every March for 11 days. Film lovers might enjoy the flicks, but downtown’s stores and restaurants are the real stars. 13 Keeping the Economy Clucking Aired: Week of 3/29/04 Sources: Ohio Board of Regents Here's a tough egg to crack: which comes first, jobs for well-educated people or brainy people who create jobs? According to the Ohio Board of Regents, nearly 60% of those who earn professional or doctorate degrees in Ohio actually stay in Ohio to work. That figure may sound low but in the late 90s only 40% of PhDs and barely 50% of those with professional degrees stuck around. So are educated folk staying in Ohio because of existing jobs or those with advanced degrees creating the jobs? It might a chicken-or-egg question, but the region needs both to keep the economy clucking. 14 Constructing the Future Aired: Week of 4/5/04 Sources: Greater Cleveland Growth Association All this talk about Making Change - y’think there’s anything concrete actually happening? You can’t get any more concrete than construction projects, and there’s plenty of that going on. The Greater Cleveland Partnership reports 65 firms expanded or built new locations in 2003. That generated nearly $286 million from capital investments. The growth created more than 2,400 jobs; all that activity is more than what the region saw in business development in 2002. So not only are there changes afoot economically, but physical change is on the rise as well. 15 Smoking the Economy Away Aired: Week of 4/12/04 Sources: Centers for Disease Control and Prevention As if you needed another reason to cut the nicotine habit, consider how much you’re hurting Northeast Ohio’s well-being. Ohioans are still puffin’ away, even though cigarettes are a known detriment to the economy. Nearly 27% of the state’s population is smokers: that’s a good 6% higher than the national average. Centers for Disease Control studies have found that tobacco addicts each cost about $3,400 more than the non-smoker; that includes medical expenses and lost productivity. Sure, smokers are ruining their health - that’s their choice - but when it comes to hurting the economy, then breaking the habit is essential. 16 Learning a New Tune Aired: Week of 4/19/04 Sources: Business Facilities Magazine For years, the refrain’s been Northeast Ohio’s a manufacturing economy. But there’s another industry with a new melody that’s getting national attention. Business Facilities magazine ranks the Cleveland-Akron metro area as 20th out of 40 best places in the country for the location of biotech companies. The rankings considered the number of biotechnology related patents awarded in a region; the percentage share of National Institutes of Health funding and the number of people employed by biotech and pharmaceutical companies. So you’re certainly welcome to keep singing the old manufacturing song, but be prepared to learn a new tune for our changing economy. 17 Bargain in Our Backyard Aired: Week of 4/26/04 Sources: Ohio Department of Development, Office of Strategic Research and BEA International Economic Accounts Outsourcing has become a dirty word in this country. But what if it's foreign companies IN-sourcing in Ohio? While American companies might be looking abroad for cheap labor, some foreign firms are actually bringing work here. Honda, for example, has two vehicle assembly plants, providing about 16,000 jobs in Northeast Ohio: that’s 10% of Honda’s worldwide workforce. And, according to the Ohio Department of Development, Cuyahoga County alone has more than 100 foreign firms employing about 28,000 people. Looks like those local companies going abroad don’t appreciate the real bargain that’s right in their backyard. 18 The Science of... Science Aired: Week of 5/3/04 Sources: The Growth Association of Cleveland Improving the region’s economy: it’s not rocket science. But there is a lot of bioscience involved. Bioscience - which includes medical devices, pharmaceuticals, medical diagnostics and software - is proving to be one of Northeast Ohio’s fastest growing industries. In fact, it was one of only two industry sectors to actually grow since the late 90s. That growth created nearly 500 new jobs; jobs that pay well above the region’s average. It’s still a relatively small portion of the region’s economy, but more growth is expected, which means improving the economy actually could be rocket science... and bioscience... and bio-physics... and bio-chemistry... and life-science... 19 Revenge of the Geeks Aired: Week of 5/10/04 Sources: IDC; Northeast Ohio Software Association Remember those computer geeks in high school that were so fun to tease? Well, these days they just might be the ones cracking the jokes. More than 1,300 U.S. and Canadian companies surveyed by a national consulting firm say they expect a 3.8% increase in IT spending in 2004. Northeast Ohio techno-philes are also optimistic: Nearly 62% of IT businesses say they’ve already noticed an increase in business and more than half of them expect to add staff this year. So you may have guffawed in high school - but it looks like we all could have spent more time in the computer lab. 20 Big Isn't Necessarily Better Aired: Week of 5/17/04 Sources: USA Today: Fortune 500 List The question keeps coming up - is Northeast Ohio’s future tied to the Fortune 500? The answer... well, maybe it’s okay to think small. Last year Northeast Ohio had 11 corporations that made the Fortune 500 list. Sure, that might be smaller than years gone by, but compared to so-called “successful cities,” we’re still in good standing. Boston, for example, only has three more Fortune 500's than we do; Seattle has one less. And only one Fortune 500 calls Portland, Oregon “home.” Which goes to show you that economists might be right when they say small business are what really drive the economy. 21 No Money in the Arts... Hah! Aired: Week of 5/24/04 Sources: United States Census Bureau Most parents discourage their kids from being too artistic. They think being an artist means you’re starving. But if you do it right, it can be lucrative on a personal and regional scale. Consider your basic coffee cup - who do you think decided it should look like that? Or what about a calculator or the images on a can of paint? It all came from the brain of some designer, also known as an artist. These designers are a big part of the economy; in the Cleveland-Akron area, industrial and graphic designers generated an annual payroll of nearly $28 million. Add to that other arts-related industries like lawyers and promoters, and who said there’s no money in the arts? 22 Music Making Money Aired: Week of 5/31/04 Source: The Cleveland Institute of Music Most of us are familiar with the wonders of music... it sooths the savage breast, sets the mood, and helps the economy. Cleveland's rich with music and both musicians and music lovers have an economic impact that reverberates throughout the state. In fact, just one local establishment, The Cleveland Institute of Music, is making a melodious monitary contribution. CIM's overall economic impact for 2003-04 was more than $90 million. That comes from student spending, alumni, visitors, and employee income, among others. So while musicians study intonation and rhythm, they're also tuning up our economy. 23 A Fishy Economic Driver Aired: Week of 6/7/04 Source: None Water, water, everywhere - mostly on our northern border - and it's one fishy economic driver. Northeast Ohioans don't have to go far to find the 12th largest lake in the world. Lake Erie boasts 262 miles of shoreline, 200 marinas, and about a gazillion fish. In fact, our great lake often produces more pounds of fish than the other four combined. And there are plenty of people eager to pluck those fishies out of the water. About 450,000 people fish in the waters of Lake Erie every year, contributing $680 million to Ohio's economy. Hey, is anyone hungry for some walleye? 24 A Popular Spot on the World Trade Line Aired: Week of 6/14/04 Source: None No need to worry that the rest of the world has no clue where Northeast Ohio is... the world comes to our doorstep virtually every day. When it comes to trade, Northeast Ohio's in the thick of it. Businesses in the Cleveland customs district bought more than $34.6 billion of goods from international suppliers, generating the fifth-highest import duty in the United States. On top of that, metro Cleveland made more than $7 million from exports last year - that's one-quarter of the entire state's exports. That just goes to show you, whether coming or going, Cleveland's a popular stop on the world trade line. 25 Onwards and Upwards Aired: Week of 6/21/04 Sources: Milken Institute Entrepreneurs made this region great, and even though some say we’ve slacked off, there’s evidence that we haven’t lost our aptitude for enterprise. A Milken Institute index tells the story of industry on the rise. Ohio’s rankings have advanced along a number of measures - including the strength of the technology and science workforce; and concentration of technology. But the most improvement was in the amount of capital invested in high risk ventures. We move up 12 places to 20th in the nation. So if you want to venture into high tech why stray further than your own backyard to do it? 26 No Sickness About Health Care Jobs Aired: Week of 6/28/04 Sources: Nursing Rewards ; Ohio Nurses Association; Ohio Board of Nursing Want to know where the jobs are? Then take a stroll to the nearest health care facility. Nursing could be a cure for the region’s employment woes. Demand is high - the Ohio Board of Nursing says the state is expected to have more than 2,500 openings by 2006; and at $45,000 a year; the pay isn’t too shabby. Nursing education programs are growing - 80% of the state’s nursing schools have expanded their programs to accept more students - and schools across the state report 100% job placement upon graduation. No need to feel sick about health care jobs. 27 Money or Opportunity? Aired: Week of 7/5/04 Source: None Thinking of a new career? Then consider what's more important to you: money or opportunity? For a more certain bet, check out business or financial services. Both sectors grew at a nice clip during the 90's and into 2001, gaining a combined 41,000 jobs. And the money's not bad, at an average of $48,000 a year. If it's bigger bucks you're looking for, try Forest Products. The average pay is more than $77,000. It's good work - if you can get it. The industry shrunk by more than 800 workers in Northeast Ohio. Guess we're still not taking those wooden nickels. 28 The Key Ingredient: Arts Aired: Week of 7/12/04 Source: Americans for the Arts There are more than 1.5 arts-related businesses in Cleveland for every 1,000 people, according to Americans for the Arts. These businesses are part of the arts industry, meaning they're museums, performing and visual arts, film, design and publishing, schools, TV, and, of course, radio. In raw numbers, the Cleveland-Akron area has nearly 4,900 arts businesses. They employ thousands of people, generate tax dollars in the millions, and generally make the region a better, more flavorful place to live. The arts may seem like the icing on the economic cake, but no matter the flavor, the arts are a key ingredient. 29 The Big Backers Boosting Cleveland's Burgs Aired: Week of 7/19/04 Source: None When it comes to improving or maintaining quality neighborhoods, Cleveland's neighborhood development corporations have a leg up on other cities. Community development corporations, or CDCs, work with area non-profits, governments, educational institutions and private companies to make neighborhoods thrive. Cleveland boasts one of the best-supported and best-funded networks in the nation, about $2.4 billion. Compared to similar-sized cities, St. Louis and Indianapolis, Cleveland has the highest level of private-sector participation. In other words, our local banks and foundations are the big backers boosting Cleveland's burgs. 30 Mighty Valley Aired: Week of 7/26/04 Source: The Cuyahoga Valley Initiative There’s a place in Northeast Ohio with green hills; flowing rivers, farms - and, oh yeah, some heavy industry, too. The Cuyahoga River Valley brings together Northeast Ohio’s geography, economy and history. In the 1800’s, Cleveland was a hub for transporting goods, thanks to the Ohio-Erie Canal. John D. Rockefeller and Marcus Hannah can credit the Cuyahoga for their fortunes. Maybe it was a wee bit polluted in 1967 when the river caught fire, but that prompted the whole country clean up its environmental act. So, y’see, the Cuyahoga Valley’s place in the pantheon of area assets is pretty powerful. 31 Down in the Valley Aired: Week of 8/2/04 Source: N/A As rivers go the Cuyahoga isn’t as big as some, but when it comes to the local economy the river and surrounding valley carry a lot of weight. 202,000 people work in the Cuyahoga River Valley - that’s nearly 22% of all the workers in Cuyahoga County - and the valley’s payroll accounts for more than 23% of the entire county. And you know what that means: where there’s payroll, there’re people spending their money... and people getting taxed, which puts money in the county’s coffers. So don’t let its size fool you: the Cuyahoga Valley has a mighty influence on our economy. 32 More Than Turning Off the Light Aired: Week of 8/9/04 Source: Green Energy Ohio If it seems like you’re paying a lot for energy, it’s because you are. Fortunately, it's possible to lower your energy bills and raise the economy at the same time. Ohio ranks third in the nation in energy consumption. A state task force says renewable energy could change that. Ohio already has biofuel producers galore as well as experts in solar and wind power. With the proper incentives and education, renewable energy could create jobs, generate more than a billion dollars of new revenue and save consumers at least $4.5 billion by 2020. I guess cutting energy costs means more than turning off the light when you leave the room. 33 The Spoils of Education Aired: Week of 8/16/04 Source: U.S. Census Bureau; Ohio Department of Education Money might make the world go round, but it takes education to get a whole region rich. The longer you stay in school, the more you earn over a lifetime: People with bachelor’s degrees earn an average of $2.1 million over the course of their lives; those with professional degrees, $4.4 million. But high school drop outs - they’ll usually net one million. So, it makes you wonder: with the average graduation rate in Northeast Ohio 87%, how much richer would the region be if more people stayed in school? 34 Yawk Sheh Mash? Aired: Week of 8/23/04 Source: Fortune Small Business Magazine; U.S. Census Bureau Bonjour, hola, ne-hama - how many ways can you say hello? It might be critical to Northeast Ohio’s economic growth. Area leaders are keen to boost Northeast Ohio’s immigrant population - with good cause. Recent immigrants to the U.S. are two to three times more likely to start their own businesses than natives. Fortune Minority businesses have grown in the U.S. by 17% a year. However, Northeast Ohio’ foreign born population dropped 11% since 1980. To lure immigrants and potential entrepreneurs we might want to make them fell welcome. So, repeat after me: Como esta? Hvordan gad et? YAWK SHEH MASH? 35 Road Construction or Repair Costs? Aired: Week of 8/30/04 Source: None So you think fixing the roads and bridges in this state is expensive? Well, it's cheaper than the alternative. Travel on Ohio's highways increased by 15% from 1991 to 2001. All that wear-and-tear is taking its toll. The good news? The region spent $189 million last year to fix or upgrade Cleveland's roads and bridges. The bad news is, many of them are still a mess. Driving on bad roads in Ohio costs motorists $1.2 billion a year for extra repair and operating costs. When you think of the money better roads could save you, it kind of makes road construction seem almost... pleasant. 36 Cleveland Doesn't Just Rock - It Grooves Aired: Week of 9/6/04 Source: Forbes Magazine Hey all you cool cats - chill out! ‘Cause Cleveland’s one hep place. Northeast Ohio is artsy and affordable… and according to Forbes Magazine, that makes Cleveland one of 10 mid-size cities that are “bohemian bargains.” It starts with a happenin’ downtown scene and stretches to our fabulous theaters and multitude of museums. The Rock Hall rounds out the picture - and to top it off: the region has a real down to earth cost of living. So Cleveland doesn’t just rock - it also grooves, daddy-o. 37 Get Happy; Get Involved Aired: Week of 9/13/04 Source: Better Together; The Social Capital Community Benchmark Survey As if you need proof: now we have hard evidence that Northeast Ohio is strong in community service. A nation-wide survey of community social capital considered the region's ethnic breakdown, level of education, age distribution and urban-orientation, and found that northeast Ohio stands out for its level of civic engagement. But there are some weak spots, such as inter-racial trust and diversity of friendships. Why does all this matter? Well, according to one researcher, the more community involvement, the more people enjoy their quality of life. That sounds easy; if you want to get happy, just get involved. 38 Hang Your Hat in Cleveland Aired: Week of 9/20/04 Source: BusinessWeek Magazine Home. It’s is where you hang your hat, it’s where your heart is… and in Northeast Ohio, home is quite a deal. BusinessWeek magazine places Cleveland at the top of the heap when it comes to affordable houses. The average cost of a mid-market, luxury house is $250,000 in these parts - that same house would cost about twice as much in Chicago, and more than a million in San Francisco. So if you're thinking of re-locating to one of those hot spots, be prepared for sticker shock – without a whopping salary increase, monthly mortgage payments will take a much bigger bite out of the household budget. Hanging your hat in Cleveland seems to be the better bargain. 39 A Little Creativity Can Go a Long Way Aired: Week of 9/27/04 Source: CAMP A little creativity can go a long way… toward competing on a global stage. Creativity leads to innovation which leads to competitive businesses which helps the region’s economy - and a bunch of area companies are contributing to the cause. They’ve come up with devices that help you load heavy items into your car; lasers that measure how much packing material should go in a box; and key rings that double as screwdrivers or flashlights. Manufacturing consultant CAMP found that four such companies are having a regional economic impact of more than $10 million - and they’ve created more than 70 new jobs. Now that’s innovation I can relate to. 40 Hand in Hand: Economy and the Environment Aired: Week of 10/4/04 Source: Jobs in Ohio No need to choose between the economy and the environment - the two actually go well together. A recent study by a Washington research group found that in 2003, Ohio’s environmental industry produced nearly 200,000 jobs.  And we’re not just talkin’ activists.  The environmental industry is manufacturing heavy:  29% of manufacturing jobs in Ohio are related to the environment.  So people could be making solar panels or producing the steel that ends up in a solar panel.  And let’s not leave out the lawyers, accountants or computer analysts working on things related to the environment.  Tree-hugging may not be as underground than we think. 41 Mass Exodus? No Way! Aired: Week of 10/11/04 Source: U.S. Census Bureau; The City of Cleveland The city of Cleveland’s been losing population, but is it really a mass exodus? For several decades, the census bureau tracked double-digit downturns in the number of people living in Cleveland, but that trend may be slowing. From 1990 to 2000, the loss of population was a mere 5%. What’s more, the city has consistently beat out the rest of the region when it comes to building new homes. In 1991 the city was 37th in the 8-county region for new housing starts, but that number’s been creeping up and in 2003 Cleveland was #1. So the next time someone tells you there's a flood of people leaving the city, tell ‘em they’re all wet. 42 Getting Sick? Stay Close to Home Aired: Week of 10/18/04 Source: HealthGrades The season of colds and fevers is upon us, but never fear! Northeast Ohio is a good place to get ill. Curl up in the comfort of knowing that Cleveland-area hospitals are ranked first in the nation for quality. HealthGrades, an independent consulting company in Colorado, compared 25 metro area’s hospitals, looking specifically at mortality rates for a variety of procedures and treatments. Cleveland’s overall rating is due in no small part to the excellence of cardiac care at the Cleveland Clinic and University Hospitals. So, if you’re going to get sick, I recommend staying close to home. 43 Big Bucks in Bioscience Aired: Week of 10/25/04 Source: BioEnterprise Corp. Northeast Ohio a poor place? Not when it comes to bioscience. Fiscal year 2004 brought in the big bucks to Northeast Ohio: $400 million for research alone, according to figures compiled by BioEnterprise. The four most active bioscience companies had sales last year totaling more than $2.9 billion. We're still adding to the wealth: This week is Nano-Week in Cleveland. There are a series of conferences on nano technology and its application to medicine, and when it comes to nano, it'll pay to remember that sometimes it's the tiniest of particles that reap big benefits. 44 Financial Services Boom Aired: Week of 11/1/04 Source: REI @ Weatherhead Time for a multiple choice quiz - which Northeast Ohio industry grew three times faster than the overall regional economy: A, information technology; B, manufacturing; or C, financial services? The answer is C. Financial services - which includes banking, insurance and brokerage firms - employs about 75,000 workers in Northeast Ohio and is the third largest employer. Over the last decade, financial services added about 40,000 NEW jobs to the area and about $2 billion in earnings. Wondering what caused the growth? Productivity, product innovation and entrepreneurship - the same characteristics that’ll pass any economic test. 45 Economic Impact is Dramatic Aired: Week of 11/8/04 Source: Cleveland State University There’s something magical about an evening at the theatre, especially when you know it’s helping the economy. The latest Cleveland State University study on Playhouse Square found that the performing arts center has a $43 million economic impact annually. The theatre complex creates 422 jobs with a payroll of $10.5 million. In 1985, when Playhouse Square had only two theatres running, the economic impact was a mere $15 million. That means today’s economic impact is nearly three times larger than it was 20 years ago. Now, that sounds pretty dramatic to me. 46 A Hefty Hunk of Change Aired: Week of 11/15/04 Source: Ohio Department of Development Ohio is a place that makes things, but where does all that stuff go? Ohio sells 57% of its goods to Canada, according to the state department of development - that’s nearly a quarter of all U.S. exports to Canada. Mexico is our second biggest buyer at 7% of the states exports. In Asia, China gobbled up more than $600 million of goods. Compared to 2002, that’s a 26% increase. In total, the world purchased $29.8 billion worth of merchandise from the Buckeye State - that’s one hefty chunk of change. 47 A Gift to Northeast Ohio: Spend Locally! Aired: Week of 11/29/04 Source: The Andersonville Study of Retail Economics; Sante Fe Independent Business Report Holiday gift-shopping got you stressed? Well, there’s an easy way to feel a little better about it. Your retail dollar does more to help the local economy when you shop at local stores - studies from across the country prove it. In Chicago, it was found that spending $100 at an independent neighborhood store created $73 in local economic activity, while $100 at an area chain produced only a $43 impact. In Santa Fe, 25% of a national grocer's operating costs leave the local area compared to 12% for locally owned grocers. So consider it a gift to Northeast Ohio’s economy when you find your presents locally.